Strategic Student & Senior Housing Trust sells Fayetteville property for $72.25M, plans debt paydown and distribution

Strategic Student & Senior Housing Trust, Inc.

Sale price of $72.25M for Fayetteville student housing property; buyer is Virtus Real Estate-led joint venture with sponsor SAM.
Net proceeds to repay $34.5M mortgage and $25.5M KeyBank bridge loan; remainder for fees and stockholder distribution.
Sale expected to close Q3 2024; prior sale agreement with different buyer terminated Jan 2024.
Q1 2024 NOI up $0.2M YoY; student housing occupancy rose to 98% from 96%; seniors occupancy flat at ~89%.
Company anticipates making a distribution of a portion of net sale proceeds to stockholders in late 2024.

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